How to Buy Cryptocurrency in Cyprus
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Buying cryptocurrency in Cyprus
In the past several years, Cyprus has achieved a form of stability and witnessed an economic growth due to its transition to a more modern economy. Looking into its cryptocurrency regulations, the information found is twofold. The government of Cyprus advised its citizens to be wary of investing in Bitcoin. On the other hand, it is quite obvious that the country has a rather crypto-friendly opinion on regulation, despite the government's proclamations and warnings. Bitcoin isn't regulated in Cyprus. However, the country even grants things like blockchain startups, ICOs, as well as exchanges. To top it all off, there's even a university which accepts Bitcoin as a form of payment for student fees, which is a rarity in the world. Citizens can purchase Bitcoin through various cryptocurrency exchanges, selecting them based on requirements and their preference. Unfortunately, the only downside is that there are no longer ATMs available in Cyprus as of January 2021
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Cyprus. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Binance
Binance is one of the largest crypto exchanges with low fees, 100s of coins, and high trading leverage. It is one of the easiest & cheapest exchanges for crypto trading.
Hundreds of coins and pairs
Very low fees
High liquidity
No US residents
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Bybit
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
Advanced and secure technology
Anonymous accounts
Attractive trading bonuses
Very low fees
Limited asset coverage
No option instruments
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Kraken
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
It can be used to trade against fiat options
Robust security measures
Free SEPA deposits in Europe
Not a very beginner-friendly interface.
No card deposit options
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Uphold Disclaimer: Asset availability on the Uphold platform is subject to region. All investments and trading are risky, and may result in the loss of capital. Cryptoassets are largely unregulated and are not subject to protection
Uphold
Based in Charleston, South Carolina. Serves over 184 countries and has done over $4 billion in transactions. Offers convenient options to swap between crypto, fiat, equities, and precious metals.
Open to US residents
Integrated with Brave Browser
Over 50 different coins
Also offers precious metals and equities
Convenient and cheap deposit/withdrawal methods
High trading fees
Smaller coin selection compared to some
No Paypal withdrawal option
No instant debit card withdrawals
![Brand](/assets/img/icons/brand.png)
![Coins](/assets/img/icons/coins.png)
![Security](/assets/img/icons/security.png)
![Usability](/assets/img/icons/usability.png)
![App](/assets/img/icons/app.png)
![Service](/assets/img/icons/service.png)